Business

China exports tumble as lockdown pressure builds

Published

5 months ago

May 9, 2022

Costa Haritos

Chinese export numbers have fallen following the country’s most recent lockdowns, which have hurt the logistics sector

China’s exports have fallen to their lowest levels in two years during the month of April.

Export growth dropped to 3.9 per cent from the previous year.

It comes as the nation shut factories and slowed transport in a bid to curb a growing cluster of COVID-19 in its major cities.

While imports remain flat from a year earlier, these restriction continues to cause congestion at key ports.

Beijing has an economic growth target of around 5.5 per cent but ongoing lockdown measures are hitting retail, production and logistics.

The war in Ukraine has also driven up global commodity prices, forcing the world’s largest buyers of iron ore and crude oil to pay more.

Business

Why Amsterdam’s Schiphol Airport will cap passenger departures

Published

16 hours ago

September 30, 2022

Costa Haritos

Amsterdam’s Schiphol Airport is capping the number of departures until next year

The airport says airlines “are not happy about it” but ultimately had no choice.

It follows a string of airport chaos over the busy summer period in The Netherlands and Europe more broadly.

Caps are expected to extend through the end of March. But authorities will review the situation again towards the end of this year.

The aviation business continues to be plagued by labor shortages on the back of the pandemic.

Business

Food delivery drone crashes into powerlines

Published

16 hours ago

September 30, 2022

Costa Haritos

Thousands of people have been left without power after a food delivery drone crashed into powerlines

Power was restored after 45 minutes after the drone made a pre-cautionary landing.

‘Wing’ is the company behind the incident who use drones for their food delivery services.

A spokesperson for Energex, the company who supplies power to the 300-affected homes says drones can be dangerous.

It’s believed these instances are very rare and the meal was still hot when emergency crews arrived at the scene.

Business

Huge win for millions caught up in Optus data breach

Published

19 hours ago

September 30, 2022

William Howard

Major news for those impacted by the Optus data incident, with authorities working around the clock to get to the bottom of the saga

Is this a sigh of relief for Optus customers?

It is a major win for those who have been impacted by the massive Optus data breach.

Australian Prime Minister Anthony Albanese has confirmed the telco giant will cover the costs of replacing affected customers’ passports, a move he has labeled as entirely appropriate.

The hacker released the personal details of more than 10,000 people on an online forum, before removing the post.

This is evidently a costly move for Optus, but one which many Australians have been calling for.

On the other side of the coin, it will also be a massive undertaking for the nation’s passport office which has been slammed recently as Aussies head back overseas post-Covid.

This comes as the Australian Federal Police launches an operation to support the data breach victims.

AFP Assistant Commissioner Justine Gough says affected customers will receive “multi-layered protection from identity crime and financial fraud”.

As the investigation continues, Australian authorities will also be leaning on their international counterparts for assistance, including America’s FBI.

It’s a massive operation and one that many Australians and indeed people right around the world are watching closely.